From a quick look it appears to be a "SAR" type indicator available elsewhere too. The vendor www.janarps.com sells an indicator for Tradestation and eSignal called "Arps Trender" that works much the same way, Divergence Software sells an eSignal version here http://www.sr-analyst.com/eSignal.htm.You can even play with SAR based systems on www.stockcharts.com for free, but their SAR does not have many adjustable parameters and they would be daily charts only.

I use a SAR strategy using the Jurik toolset triggered off of Jurik's RSX indicator rather than the normal price action trigger. These are not complete trading systems, you need to order your own rule set with stop losses, etc